Ontario County is rolling out two new programs aimed at tackling the region’s housing crunch and supporting small businesses — a vacant rental rehabilitation grant and a low-interest loan fund already putting money into local storefronts and shops.
Ryan Davis, Ontario County’s Director of Economic Development, joined the FLX Morning Podcast on April 28 to walk through both initiatives and explain how property owners and small business owners can get involved.
The Vacant Rental Improvement Program (VRIP) is a state-funded effort targeting small, locally-owned properties that are currently vacant and uninhabitable or unmarketable. Eligible owners — those with five units or fewer who live in the area — can receive up to $50,000 to rehabilitate a unit, provided rent is set at or below 80% of the area median income. A higher-tier grant of $75,000 is available for landlords who commit to renting at 60% of area median. Recipients must have the unit back on the rental market within two years and are locked into the rent pricing for 10 years. Ontario County received $2 million from the state for the program and hopes to make awards by the end of June, targeting approximately 30 to 35 units.
Two public information sessions have already been held. Two more are scheduled: Tuesday, April 29 at the former school building at 8 Banta Street in Phelps, and Wednesday, April 30 at Richmond Town Hall on Main Street in Richmond. The sessions are free and open to landlords, developers, nonprofits, and other property owners. A separate contractor-focused session is planned within the next 30 days for those interested in doing the rehabilitation work.
Davis noted the program is particularly well-suited for underutilized second and third floor spaces above Main Street businesses — pointing to Phelps, which recently received a $4.5 million state investment, as a prime example. A 2022 county housing needs assessment identified roughly 1,700 properties that could be considered candidates for revitalization.
The second program, the Eagle Loan Fund, launched in November 2024 in partnership with Canandaigua National Bank and Trust. It offers loans between $5,000 and $25,000 at 2.5% interest with one-to-five year terms, targeting small businesses that don’t need or qualify for the county’s traditional $100,000 revolving loans. Since December, the program has approved roughly $203,000 in loans to businesses including Psyched Pizza in Bloomfield and Charlie’s K9 in Phelps. Applications are available at any Canandaigua National Bank branch — ask for the Eagle Loan Fund. Davis said he plans to bring a proposal to the Board of Supervisors this week to expand the fund to approximately $500,000 using remaining federal dollars.